Oscar Health, Inc. Announces Partnership with Stride Health to Provide Best-In-Class Enrollment Experience for Members and Brokers

Rhea-AI Summary

Oscar Health (NYSE: OSCR) has announced a partnership with Stride Health to enhance its enrollment process for Affordable Care Act Individual & Family health plans. The integration of the Stride for Health Plans enrollment platform on Oscar's website allows consumers and brokers to complete health insurance applications seamlessly. This partnership aims to improve the enrollment experience during the Open Enrollment Period for 2022, providing users with access to subsidies and simplified renewals. Oscar serves around 594,000 members as of September 30, 2021.

Positive

• Partnership with Stride Health enhances the enrollment process for ACA plans.
• Integration allows seamless enrollment, improving user experience.
• Oscar has approximately 594,000 members, indicating a healthy customer base.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Oscar Health, Inc. (“Oscar”) (NYSE: OSCR), the first health insurance company built on a full stack technology platform today announced a partnership with Stride Health, the leader in portable benefits technology. Oscar will offer a fully-integrated enrollment experience powered by the Stride for Health Plans enrollment platform on the Oscar website. With this new, best-in-class experience,

1. Shoppers can now seamlessly enroll in Affordable Care Act Individual & Family health plans without leaving the Oscar digital experience.
2. Oscar brokers will have a comprehensive, easy-to-use enrollment platform to help their customers get enrolled and connect them instantly to the Oscar digital experience.¹

The Stride for Health Plans enrollment platform features a unique integration with HealthCare.gov, known as Enhanced Direct Enrollment, or EDE. This allows consumers to complete their entire health insurance application process on a single site. In addition to an improved direct to consumer experience, the integration also improves the ability for brokers to service Oscar members via the Oscar broker portal. Specifically, this enables brokers to fully enroll individuals in the health plan that’s right for them, while also ensuring that their clients can get information on and access available subsidies to offset insurance costs. The integration also empowers brokers with the ability to easily renew members while providing them with the tools needed to deliver world-class customer support.

This partnership comes as millions of Americans are shopping for Individual & Family health plans during the Open Enrollment Period for 2022 and will streamline the historically inefficient process.

“Our focus has always been to provide an unparalleled experience for all who interact with Oscar, whether that’s our members, brokers, or general agents. Our integration with Stride for Health Plans allows us to do just that,” said Louis DeStefano, SVP of Growth for Oscar. “We are proud to be finding new solutions to support brokers this Open Enrollment, and help individuals get enrolled in our plans, giving them access to high-quality, affordable care.”

“We launched Stride in 2014 with the belief that enrolling in health insurance and individual benefits should be easier for everyone,” said Noah Lang, CEO and Co-Founder of Stride Health. “Oscar set the bar for the entire industry with their personalized care & member experience and we’re incredibly proud that our Stride for Health Plans platform now powers a comparably user-friendly enrollment experience for both their members and their brokers.”

In addition to serving Individual & Family plans, the Stride platform will also be available to +Oscar clients –– Oscar’s newly launched tech-driven platform business, designed to help healthcare clients drive improved efficiency, growth, and superior engagement with their members and patients. More information can be found at www.hioscar.com.

About Oscar Health

Oscar Health, Inc. (“Oscar”) is the first health insurance company built around a full stack technology platform and a relentless focus on serving its members. At Oscar, our mission is to make a healthier life accessible and affordable for all. Headquartered in New York City, Oscar has been challenging the healthcare system's status quo since our founding in 2012. The company’s member-first philosophy and innovative approach to care has earned us the trust of approximately 594,000 members as of September 30, 2021. We offer Individual & Family, Small Group and Medicare Advantage plans, and +Oscar, our full stack technology platform to others within the provider and payor space. Our vision is to refactor healthcare to make good care cost less. Refactor is a term used in software engineering that means to improve the design, structure, and implementation of the software, while preserving its functionality. At Oscar, we take this definition a step further. We improve our members’ experience by building trust through deep engagement, personalized guidance, and rapid iteration.

About Stride Health, Inc.

Stride provides the world’s first portable benefits platform designed specifically for independent workers, helping them save time and money on insurance and taxes. Since launching in 2014, Stride has helped over 2.7 million workers save over $2.9 billion. Stride partners with the world’s leading work platforms and employers of non-benefited workers including Uber, DoorDash, Instacart, Amazon, Lyft, GrubHub, Gopuff, Fiverr, Etsy, Patreon, Rover, TaskRabbit, Keller Williams and more so they can provide their workers with access to a full marketplace of health and wealth benefits and perks. In 2021, the company launched its Stride for Health Plans

platform to enable simple ACA enrollment for health insurance carriers. Stride is backed by Mastercard, Allstate, King River Capital, Venrock, New Enterprise Associates, Fidelity’s F-Prime Capital Partners, and Moderne Ventures. For more information, visit https://www.stridebenefits.com.

¹ Applies to on-exchange Individual & Family plans, in Health Insurance Marketplace states only.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211123005874/en/

MEDIA CONTACT:

Jackie Kahn, Oscar

202.538.0128

JKahn@hioscar.com

Source: Oscar Health, Inc.

FAQ

What is the recent partnership announcement by Oscar Health (OSCR)?

Oscar Health announced a partnership with Stride Health to enhance the enrollment process for ACA health plans on its website.

How does the Stride Health enrollment platform benefit Oscar Health (OSCR)?

The Stride platform offers a seamless application process for consumers, allowing brokers to service members better and access subsidies.

How many members does Oscar Health (OSCR) serve?

As of September 30, 2021, Oscar Health serves approximately 594,000 members.

What is the significance of the Open Enrollment Period for Oscar Health (OSCR)?

The Open Enrollment Period is crucial for Oscar Health as it allows millions of Americans to shop for Individual & Family health plans.